How To Plan And Host A Product Launch Event Successfully
Planning a product launch event could be an exciting and agitating experience at the same time. Granted, you’ve spent quite a lot of time and resources perfecting your masterpiece. You’ve also completed the registration process to qualify your product for the market. But it’s time for the icing on the cake- the product launch event itself. And the last thing you’d want is for anything to go wrong!
At the center of all this is a remarkable product launch event venue. Luckily, Fluidmeet offers some of the best event venues in Dubai. And with the varied nature of UAE’s populace, you’ll surely generate enough revenue that would make this worth your while.
Here, we will be sharing a few tips on how to plan and host a product launch. So if you’re eager to learn about the secret to a memorable event, stick around to find out.
Why Are Product Launches Events Necessary?
You have much to gain if you plan and host a product launch. Product launches are:
A great way to draw attention to your brand
If there’s one thing you can’t get enough of as a business owner, it is attention. Product launch events are thus an excellent way to inform the world about your company and its new product.
It improves your brand’s reputation
A successful product launch event could create an excellent first impression for potential customers and investors.
Product launch events also significantly boost sales of new product
Your sales margin will be higher if you host and plan a product launch than if you don’t. The greater publicity around a new product would attract more people to try it out, thus leading to more sales.
It allows people to network with top brands in your niche for more strategic collaborations
If you seek to network with the gurus in your niche, you must take advantage of every opportunity to invite them to your big event. Additionally, the chances that they would honor your invitation are greater; because a product launch event offers more mutual benefits than a one-on-one meeting.
Product launch events are also a fun way to bond with your old clients and potential ones
Launch events also offer an avenue to connect physically with your clients while generating new leads and increasing your brand’s awareness. In fact, statistics show that 56% of consumers try out a new product based on recommendations from family and friends. So by creating a bond with old and new clients, you are paving the way for more leads.
Tips For a Successful Product Launch Event
According to a recent survey by Harvard Business School, about 95% of product launches fail due to inadequate preparation. Hence, proper planning is the most important prerequisite for a productive launch event. Here are some proven tips that would help you achieve a successful event.
1. Pick a venue suitable for the product launch
Your event venue will set the atmosphere for the whole event. So the first secret to a successful product launch is picking a suitable event space. You could look into several options: ballrooms, conference halls, or even banquet halls in Dubai.
There are a couple of factors you should consider. Firstly, how conveniently is the venue located? And how easy would it be for your target guests to attend? You’d also want to check out the event hall’s capacity to ensure that it matches the guest count.
If the venue is too small, your guests won’t be comfortable. And if it’s too large for the number, the product launch would seem awkward. It would be best if you had a suitable event hall for an excellent first impression.
Another thing you need to keep your eye on is your budget. Does the price of the event hall match your budget? You can choose from a wide selection of event venues in Abu Dhabi, Sharjah, Dubai, and other prominent cities on fluidmeet based on your budget. The prices are also quite affordable, ranging from banquet halls and outdoor events spaces costing $30- $50 dollars per guest to ballrooms costing up to $72 per guest.
Does the ambiance resonate with the brand image you would want to create? Remember, the right venue can break or make the event. So if you need to book that event space ahead, endeavor to do so.
2. Define your audience
A common mistake most brand owners make is focusing too much on themselves and the product when hosting a product launch. While this is not wrong, the reality is that your product launch event should focus on the audience too! And the key to achieving this is defining your audience from the start.
You must first know those who are interested in your product. Also, research your audience’s needs and how your product meets them. For instance, a beauty business would have a different audience from a sneaker brand. So if you’re launching a new set of sneakers, you should ensure that the product launch focuses on convincing them of what the product offers instead of dominating the whole event with all the qualities of your new product.
If you don’t factor your guests into the product launch event, you might not please them. And the last thing you want is to kill the excitement around your product with poor delivery.
3. Promote your product launch event
It would be best to actively promote your product launch to generate excitement that would attract the right guests. Publicize the events by having a countdown on social media or pre-order sales. You could also give coupons and discounts or sell VIP tickets to the product launch event.
4. Invite the right people
Once you have defined who your audience should be, you should work towards inviting the right people. Naturally, the “right people” need your new product or can invest actively in your brand. But you shouldn’t just stop there. Your event should also have a “People magnet.”
Celebrities, media houses, and social media influencers fall under this category. And if you are launching an industry-related product, then inviting a top CEO in your niche would also cause quite a stir.
5. Don’t just inform, Entertain!
Hosting a product launch is beyond giving out all the reasons why your audience should purchase a copy each. It’s a great way to create lasting memories for potential clients and guests. And to give them something to talk about in business forums and on social media.
So, provide entertainment for the event that people can engage themselves in. You can employ many activities to make the product launch event more lively. However, incorporate those that align with your company’s values. Activities or games that allow the audience to interact with your new product are a plus.
Conclusion
A successful product launch could do more than create an excellent first impression for potential customers and investors present. It could significantly improve your brand’s reputation, boost sales, and open up even more opportunities for your brand.
So endeavor to make product launches a part of your marketing strategy. And if you’re thinking of a way to gain more attention, you should start planning your first product launch event. It’s probably not as complicated as it seems.
